The Internal Revenue Service Today announced new inflation-adjusted limits for 2023 that will allow well-off individuals to transfer much more to their heirs tax free during life—or at death.
Unlike a last will and testament, a revocable living trust is effective during your lifetime.
Robert, the older brother, and Lon, the younger one, were close as they were growing up in the Queens borough of New York City. However, when their mother passed away and left the bulk of her estate to Robert, Lon was devastated.
An estate plan works like the operating system on your phone or computer. It runs in the background. However, it needs occasional updates to keep the plan current.
The financial consequences of a diagnosis of Alzheimer’s disease or any one of the rarer dementias can easily fall to the family of the patient. In any diagnosis that includes declining mental health, it’s important to get one’s financial house in order.
One of the biggest challenges that clients encounter during the process is deciding who to appoint as their trustees, powers of attorney, health care surrogates and executors.
Just 34% of adult Americans have an estate plan and 37% of respondents said they didn’t have a plan at the ready.
Life insurance is often a cornerstone of a comprehensive estate plan, particularly when an estate consists of largely illiquid assets.
When preparing estate planning documents, certain beneficiaries may need more protection than others. One particular class of beneficiaries that needs to be intentionally considered is minor children.
It is your right to keep your health information private, but is that always what is in your best interests?
